[SatNews] The results for Q1 of 2012 are in...

International Datacasting Corporation (TSX:IDC) has announced its financial results today for the first quarter of fiscal 2012, ended April 30, 2011. All figures are in Canadian dollars unless otherwise stated. The Company posted its best fiscal first quarter revenue figure ever, as it continued to deliver solid top-line growth coupled with lower year-over-year operating expenses. This resulted in a significant reduction in year-over-year losses as compared to the same quarter of fiscal 2011. Revenue increased by 55 percent in the period, versus the same quarter in the prior year, to $8.4 million, and EBITDA(1) increased by $1.4 million from a loss of $1.7 million to a loss of $243,494. Excluding the impact of changes in foreign exchange from the relative strengthening of the Canadian dollar, IDC's revenues grew by 63 percent in the first quarter vs. the same quarter in the prior year. To read the entire financial report, please access this direct link.